Can an employee make changes to their Life Insurance beneficiaries?

Resources

Info, How To, and FAQ's Tools, Forms, Checklists, etc.
UCnet: Life Insurance Designation of Beneficiary (UBEN 116 Form)

ANSWER

  • Employees can change their beneficiaries at any time using At Your Services Online (AYSO).
  • If the employee has no access to the internet, they may complete the UBEN 116 form, available from the Benefits Office.
  • Once UC HR accepts the new designation, all previous designations become invalid.  UC HR will confirm the changes either by sending an e-mail to the employee’s UC work address or by sending a notice to the employee’s home address.
  • If no beneficiary is named or if the employee’s beneficiary is no longer living, any benefits will be paid to the employee’s survivors in the following order:
    • Surviving legal spouse or surviving domestic partner; or, if none,
    • Surviving children, on an equal-share basis; or, if none,
    • Surviving parents on an equal-share basis; or, if none,
    • Surviving siblings; or, if none,
    • The member's estate.

 

Common Benefits Questions

Definitions

Beneficiary – A person designated as the recipient of funds or other property under a will, trust, insurance policy, etc.

UBEN 116 Form – Employees can use this form to name or change their beneficiary(ies) for lump sum death benefits from UC Retirement Plan (UCRP)/Capital Accumulation Payment (CAP) and/or certain UC-sponsored insurance plans.